Periphery Development Expenses - Disallowance of expenses as ...

Income Tax

June 15, 2022

Periphery Development Expenses - Disallowance of expenses as only objection raised by the ld. AO is that some of the expenditure debited by the assessee cannot be termed as exclusively for the purpose of the business - The expenditures have been incurred under the guidance of District Periphery Development Committee as well as Periphery Development Society. - the ld. 1st Appellate Authority has appreciated the nature of the business, i.e. mining of Iron Ore, vis-à-vis incurrence of these expenditures - the additions were rightly deleted - AT

View Source

← Previous Next →

Periphery Development Expenses - Disallowance of expenses as ...

Income Tax

June 15, 2022

You may also like:

Disallowance of proportionate cost of land out of solid waste tank expense – cost of land debited by the Assessee in Profit and Loss account is not allowable as revenue...

Disallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO by giving a categorical finding that the ld. AO had not even...

Disallowance of expenditure towards development of property - no supporting bills of expenditure were provided - CIT(A) has allowed on ad hoc basis only 40% of the...

Revision u/s 263 by CIT - allowability of ESOP expenditure - No hesitation in holding that assessee had rightly debited the ESOP compensation cost of ₹ 32.55...

Penalty u/s 271(1)(c) - Disallowance of interest expenditure under section 43B as well as disallowance export product development expenses - Just because the assessee...

Ad hoc disallowance of 10% of expenses - Since the AO or the Ld. CIT(A) has not rejected the books of account of the assessee they could not have estimated (ad hoc...

Sharing of expenses - claim of expenditure on the basis of debit note - one cannot imagine that there will be not expenditure of machinery maintenance - claim allowed - AT

Disallowance of various expenses on ad hoc basis - While scrutinizing the expenditure if the expenses claimed are not having any nexus to the business of the assessee or...

Disallowance of land development charges - onus is on the assessee to establish on evidence that the land development expenses were incurred wholly and exclusively for...

Transfer Pricing Adjustments - The Tribunal upheld the Ld. DRP's directions on various objections raised by the taxpayer, including the consideration of multiple-year...

Quick Updates: